INTRODUCTION TO MICROECONOMICS



Public Finance

Spring 2011 Course Syllabus ECO 515-1 12:30-1:45 pm TTh Strong 350

Instructor: Dr. David Mitchell Office: Strong 378 Phone number 836-5551

Office Hours: 8:00-9:30 TTh and 2:00-3:00 TTh or by appointment

email address: davidmitchell@missouristate.edu

Web Page:

COURSE TEXT: Required—Public Finance by Rosen and Gayer

Required—Additional readings that are available on my webpage/passed out in class

COURSE DESCRIPTION AND PREREQUISITES: Allocation and distribution functions of the public sector of the economy; theories of taxation and public expenditure; shifting and incidences of taxes, local-state federal finance. Prerequisites: Econ 155; Econ 165

COURSE OBJECTIVES: This class is designed to introduce the student to the special economic nature and problems of government and how it interacts in and with the economy. We will examine externalities, public goods, government expenditure programs, and taxation policy. In addition to this, the student will hone their analytical and economic reasoning skills by using the tools learned in previous economic classes to solve economic problems. Finally, the student will have an opportunity to practice their writing skills.

COURSEWORK: Your grade will consist of three exams and a policy paper. One of the three exams will be the final which may be partly comprehensive. Students will not be allowed to make up exams unless there is a valid excuse for missing a scheduled exam. What constitutes a valid excuse is determined by MSU policy and myself. In the case that a makeup exam is granted, its format will be different from regularly scheduled exams. The student will have 1 week to make up a missed exam, afterwards the recorded grade will be zero. Each exam is worth 100 points. Students are not allowed to use graphing or programmable calculators on exams. Students will not be allowed to use cell phones as calculators on exams. You are not allowed to take the final early.

The policy paper is worth 100 points and will consist of a paper on the costs of a public policy/program. You will need to develop a quantitative estimate of the real opportunity costs of your chosen policy in the United States (or relevant political jurisdiction) for the year 2009. You will have to begin with a definition and description of your policy. Be sure to identify and explain each of the components of the policy’s real opportunity cost. Be careful to avoid double counting of costs. You are required to show you work and explain your calculations. Disclose all of your assumptions regarding critical parameters. Credit all sources of data and information on critical parameters. Produce a range of estimates in all cases where the value of a parameter is in dispute. Finally provide a summary of your results in a table. If you are taking this class as an undergrad, you need focus on the costs of the program only. If you are taking this class a graduate student, you will need to focus on both the costs and the benefits of program that you have chosen.

Your policy paper must be typed and turned in on time. Students will use a 12 point font and margins of 1 inch on all sides. Under absolutely no circumstances will late work be accepted (i.e., late work will receive a zero). If you have to miss class due to athletic events, family circumstances, or the like, you must turn in the research paper before you leave. The policy paper does not have a minimum or maximum length, i.e. be as thorough as you need to be but as concise as possible. However, do not forget that this paper is worth 25% of your grade and it deserves your sustained attention. On March 3, I will be willing to look at drafts of the work that you have done up until that point. These will not be graded per se, but I will make constructive comments. I would STRONGLY encourage you to take advantage of this opportunity to make sure that you are ‘on track’.

References from academic journals must be used. Instructor must approve all deviations from the research topics. Turabian style must be used.

Possible Policy Paper Topics

Public Transportation (such as a Light rail project, bus, amtrack, etc.); TANF; Medicare; Medicaid; Social Security; Unemployment Insurance; Education; Public Housing; Disability Insurance; Agricultural Subsidies (must be specific, i.e. ethanol, tobacco, etc.); Water Distribution system; Highways; etc. Don’t confine yourself to just federal programs. Note that each student must choose a different topic—there can’t be any duplication.

GRADING: Course grades are established as follows

I will not utilize the +/- system of grading

A 90% to 100% B 80% to 89% C 70% to 79% D 60% to 69% F below 60%

SCHEDULE:

A tentative schedule of the topics that we will cover is as follows:

Section 1:

Introduction and background to public finance (Roughly chapters 1, 2, 3, 4, 5, 6, 8)

Section 2:

Government Expenditure programs (Roughly chapters 7, 9, 10, 11, 12, 13, 22)

Section 3:

Government Taxation policy (Roughly chapters 14, 15, 16, 17, 18, 19, 20, 21) and additional topics as time permits

CLASS PARTICIPATION -- Students are encouraged to participate in class as much or as little as they want; nevertheless, you should be prepared to answer questions asked of you. Do not under any circumstances feel afraid to ask questions.

COMMON COURSE POLICIES – Missouri State University has instituted a set of common course policies that are to be in every syllabus. These policies deal with Academic Integrity, Nondiscrimination, Disability Accommodation, Cell Phones, Emergency Response, and Dropping a class. You can set these policies at the following address .

In addition to these policies, I have included the following:

CHEATING -- All members of the University community share the responsibility and authority to challenge and make known acts of apparent academic dishonesty. Any student detected participating in any form of academic dishonesty will be subject to sanctions as described in the Student Academic Integrity Policies and Procedures, , also available at the Reserves Desk in Meyer Library, and in abbreviated form in the MSU Undergraduate Catalog.  Possible sanctions include issuing an "XF" for a semester grade.  It is your responsibility to read and fully understand MSU's Student Academic Integrity Policies and Procedures.

At a minimum, anyone caught plagiarizing or cheating will automatically receive a zero for the assignment. This zero will automatically be averaged into the semester's final score without any possibility of it being replaced. Cheating and plagiarism include a variety of activities. If in doubt, ask me.

Also, you will not be allowed to use a calculator with graphing capabilities on any exam or quiz. You will not be allowed to use your cell phone as a calculator for the exam.

ATTENDANCE POLICY -- The university’s attendance policy can be found at . Regular attendance is strongly encouraged but not required. There is a direct correlation between attendance and your final grade. It should be noted that if you miss a class, you are responsible for obtaining any missed material, including notes, handouts, etc. Throughout the semester there may be opportunities for students to receive bonus points through a variety of methods. These will be unannounced. If you miss one or any of these opportunities you will not be allowed to make them up for any reason.

OTHER -- You should note that I do not view this syllabus as a “contract”, but rather as a method of disseminating information about the course. However, should it be necessary to make changes in the syllabus, I will make them with written notice.

IMPORTANT DATES

See the following link for important dates throughout the semester



Below is an abridged list of important dates

January 11 (T) – First day of classes

March 5-13 –Spring Break(no classes)

April 8 –Last Day to Withdraw from class

April 21-22 (Th, F) – Easter Break (no classes)

May 5 (Th) –Last Day of Classes

Final exam for ECO 515-1 2:00-3:15 pm ( Thursday May 12 11:00 am – 1:00 pm

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